Yesterday, I got an e-mail from a customer looking to buy some Key West chips. He got samples and loved them, but the price of $1.39 per chip was not within his budget. After noting that these chips "were not Paulson" chips, he asked what I would really charge for a set. But he was polite and friendly, as was my response to him.
His message was clear. He thinks I get Key West chips from Classic Poker Chips for half price, or wholesale, or something, and wanted to know if he could get a deal on a set of Key Wests. He used "Paulson" as a synonym for "better," which tells me he is new to the chip world. Paulson makes a great chip, and will make one for you as soon as you get a casino license. And Key Wests are not Paulsons. But Paulsons are not Key Wests, either.
Since I bought the Key West line from Apache Poker chips a few years ago, I've been part of several conversations about pricing with industry professionals. Some of the things I've learned would surprise many of you, and some are the private business of others, and can't be discussed.
But if you are considering Key West chips -- or any other high-end clay casino chip -- I can offer some real information about cost and price. Read to the end, and I think you'll be shocked.
First, I wish it were the early 2000s again. I was younger, thinner, and had better hair... or more hair... or just "hair." And casino chips were selling for around $1 per chip. "Boutique chips," like Sidespot's offerings, were priced at $1.25 per chip even then.
Second, Key West chips are not Paulson chips. They're also not used Paulson casino chips, available in limited quantities and certain denominations. Key West chips are brand new, mint chips from the factory, and you can buy any quantity in any denomination with no waiting. You can also get matching playing cards, dealer buttons and other Key West themed items, or suggest an item you'd like to see made with a Key West logo on it. They're made in the United States, not Mexico. And you can also be sure that if you buy a set, you'll be able to get more in the future.
Today, my company buys Key West chips from Classic Poker Chips in large quantities and offers them for resale for $1.39 per chip to members of PCF. When I need to restock, I pay Classic's current price for level one chips. (Key West chips are level one edge spot chips.)
So how do we get our price down to $1.39? First, CPC send some extra in each shipment, reducing our actual "per chip" cost. That savings is passed to you.
Next, we have over 10,000 chips in stock at any time, and some were bought when prices were lower. The NCV chips we sell are from the original minting of Key Wests in 2004 at the old ASM, Portland, as no other version of the company has ever made an NCV Key West chip. (If you have a Key West NCV chip, it's from the original run in 2004.)
That means our "average" chip cost will always be lower than current chip prices. We bring the price down a little more with part of the profits from the sale of other items. And our blue Key West "Live" chips actually create revenue for the company just by existing. The $1 paid for each $1 chip is invested in high-yield peer-to-peer lending, so we make over 1 cent per chip per month for every blue $1 chip in circulation. It's not the massive profits a casino might see from winning that chip back from a player 10 times a day, but it's something.
In the end, we're offering a brand new, real clay casino chip that should retail for around $1.75 for $1.39 per chip. (Sidespot is offering a similar clay chip on a nice mold for $1.49 each when and if they're in stock. I have a sample set, on the cigar and snifter mold. I think the Key West mold, colors and inlay are much nicer.)
I bought the Key West line of chips to keep the chips available for people who already have a set of Key West chips and would like more, and for people who always wanted a set but never got around to it. We've added denominations to make the Key West line a great choice for micro-cash, cash, or tournament play, and even a $2.50 chip for that blackjack table. We've also created solid roulette Key West chips which can double as a non-denominated chip, and have an array of other Key West items for your table like Key West playing cards and dealer buttons.
And the thing most people don't know? If you hit the Powerball tonight for $200 million and decide to open your own casino, you might call GPI to have some nice custom Paulsons made. But if you do, get ready. I understand they'll charge you about the same as CPC's current prices for each chip, if you're willing to meet their minimums.
I think it would be smarter to call David, David and Jim B at CPC.
His message was clear. He thinks I get Key West chips from Classic Poker Chips for half price, or wholesale, or something, and wanted to know if he could get a deal on a set of Key Wests. He used "Paulson" as a synonym for "better," which tells me he is new to the chip world. Paulson makes a great chip, and will make one for you as soon as you get a casino license. And Key Wests are not Paulsons. But Paulsons are not Key Wests, either.
Since I bought the Key West line from Apache Poker chips a few years ago, I've been part of several conversations about pricing with industry professionals. Some of the things I've learned would surprise many of you, and some are the private business of others, and can't be discussed.
But if you are considering Key West chips -- or any other high-end clay casino chip -- I can offer some real information about cost and price. Read to the end, and I think you'll be shocked.
First, I wish it were the early 2000s again. I was younger, thinner, and had better hair... or more hair... or just "hair." And casino chips were selling for around $1 per chip. "Boutique chips," like Sidespot's offerings, were priced at $1.25 per chip even then.
Second, Key West chips are not Paulson chips. They're also not used Paulson casino chips, available in limited quantities and certain denominations. Key West chips are brand new, mint chips from the factory, and you can buy any quantity in any denomination with no waiting. You can also get matching playing cards, dealer buttons and other Key West themed items, or suggest an item you'd like to see made with a Key West logo on it. They're made in the United States, not Mexico. And you can also be sure that if you buy a set, you'll be able to get more in the future.
Today, my company buys Key West chips from Classic Poker Chips in large quantities and offers them for resale for $1.39 per chip to members of PCF. When I need to restock, I pay Classic's current price for level one chips. (Key West chips are level one edge spot chips.)
So how do we get our price down to $1.39? First, CPC send some extra in each shipment, reducing our actual "per chip" cost. That savings is passed to you.
Next, we have over 10,000 chips in stock at any time, and some were bought when prices were lower. The NCV chips we sell are from the original minting of Key Wests in 2004 at the old ASM, Portland, as no other version of the company has ever made an NCV Key West chip. (If you have a Key West NCV chip, it's from the original run in 2004.)
That means our "average" chip cost will always be lower than current chip prices. We bring the price down a little more with part of the profits from the sale of other items. And our blue Key West "Live" chips actually create revenue for the company just by existing. The $1 paid for each $1 chip is invested in high-yield peer-to-peer lending, so we make over 1 cent per chip per month for every blue $1 chip in circulation. It's not the massive profits a casino might see from winning that chip back from a player 10 times a day, but it's something.
In the end, we're offering a brand new, real clay casino chip that should retail for around $1.75 for $1.39 per chip. (Sidespot is offering a similar clay chip on a nice mold for $1.49 each when and if they're in stock. I have a sample set, on the cigar and snifter mold. I think the Key West mold, colors and inlay are much nicer.)
I bought the Key West line of chips to keep the chips available for people who already have a set of Key West chips and would like more, and for people who always wanted a set but never got around to it. We've added denominations to make the Key West line a great choice for micro-cash, cash, or tournament play, and even a $2.50 chip for that blackjack table. We've also created solid roulette Key West chips which can double as a non-denominated chip, and have an array of other Key West items for your table like Key West playing cards and dealer buttons.
And the thing most people don't know? If you hit the Powerball tonight for $200 million and decide to open your own casino, you might call GPI to have some nice custom Paulsons made. But if you do, get ready. I understand they'll charge you about the same as CPC's current prices for each chip, if you're willing to meet their minimums.
I think it would be smarter to call David, David and Jim B at CPC.
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